1 Campbell Soup Company is an American processed food and snack company, but is known for its canned soups. The company provides the following standard and actual cost relating to material price and labor usage. Item to Classify Material Price Labor Usage Standard 8.50 per gallon 30,000 hours Multiple Choice Actual 8.35 per gallon 28,500 hours Based on the above information, which statement is correct? Both the materials price variance and the labor efficiency variance are favorable. The labor efficiency variance is unfavorable.

Campbell Soup Company is an American processed food and snack compmy, but is known for its canned soupa. The company provides the folkowne standard and actuar cost retating to matecial price and labor usege. Based on the above information, which statement is correct? Multiple Choice Both the materials price variance and the labor efficiency variance are favorable. The labor efficiency variance is unfavorable. Both the matenials price variance ond the tabor efficiency voriance are favorable. The iabor efficiency varlance is unfavorable. Both the materlal price variance and the labor efficiency variance ore unfavorable. The materials price variance is unfavorable